Monday, AbbVie Inc. (ABBV) announced an agreement to acquire Apogee Therapeutics (APGE) for $135.11 per share in cash, valuing the latter at approximately $10.9 billion.
Under the agreement, the company will acquire Apogee's diverse pipeline of multiple clinical-stage candidates in development across inflammatory and immunological diseases, including atopic dermatitis and asthma.
The transaction is expected to strengthen AbbVie's ability to deliver innovative medicines to patients who need better options, advance Apogee's pipeline of highly differentiated clinical-stage assets, and transform the standard of care in inflammatory diseases.
Moreover, the acquisition could create long-term shareholder value with peak sales potential across Apogee's pipeline of assets, including its lead asset, zumilokibart, and APG273.
The proposed transaction, set to close in the third quarter of 2026, is expected to be accretive to AbbVie's adjusted diluted earnings per share, starting 2032.
In the pre-market hours, ABBV is trading at $220.05, up 1.60 percent on the New York Stock Exchange. Meanwhile, APGE is surging 48.20 percent, to $133.95 on the Nasdaq.
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Business News
June 19, 2026 16:46 ET Major central banks continued to dominate the economic news flow this week too, led by the Federal Reserve, as they announced their latest policy decisions. The Federal Reserve policy session was in focus as it was the first to be led by the new chief Kevin Warsh. In Europe, central banks of the U.K. and Switzerland announced their rate decisions. In Asia, the Bank of Japan drew attention for its policy moves, while data out of China threw some light on the state of the economy.